Financial Crime World

Enhancing Audit Quality in Liberia: A Study on Preventing Fraud and Corruption

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Introduction

The Liberian public sector is facing significant challenges related to fraud and corruption, which have hindered economic growth and development. One of the key institutions responsible for preventing these issues is the Supreme Audit Institution (SAI). However, SAIs in Liberia face numerous challenges that impact their ability to provide high-quality audits.

Literature Review

Historical Background of SAIs in Liberia

  • The historical background of SAIs in Liberia and how they have evolved over time will be explored in this study.
  • This section will examine the establishment of SAIs in Liberia, their roles, and responsibilities.

Importance of Audit Quality in Preventing Fraud and Corruption

  • The importance of audit quality in preventing fraud and corruption in the public sector will be discussed.
  • Relevant studies such as DeFond and Zhang (2014), Qaid et al. (2022), and Zhan et al. (2020) will be cited to support this discussion.

Challenges Faced by SAIs in Liberia

  • The challenges faced by SAIs in Liberia, including resource constraints, complex regulatory environments, and inherent limitations of auditing, will be examined.
  • This section will discuss the impact of these challenges on audit quality and prevention of fraud and corruption.

Institutional Isomorphic Influences on Audit Quality

  • The role of institutional isomorphic influences on audit quality will be discussed.
  • Relevant studies such as Lino et al. (2022) and other relevant studies will be cited to support this discussion.

Discussion

Influence of Coercive, Normative, and Mimetic Pressures on Audit Quality

  • This section will elaborate on how SAIs can be influenced by coercive, normative, and mimetic pressures to improve their audit quality and prevent fraud and corruption.
  • The importance of compliance with international auditing standards in achieving good audit quality will also be discussed.

Institutional Theory, Isomorphism, and Decoupling Concepts

  • This section will examine how SAIs can apply institutional theory, isomorphism, and decoupling concepts to improve their audit quality and prevent fraud and corruption.
  • The relevance of these concepts in the context of Liberia’s public sector will be discussed.

Analysis

Research Design and Methodology

  • This section will present the research design and methodology for collecting data on the influence of institutional pressures on audit quality in Liberia’s public sector.
  • The data collection methods, including case studies and qualitative interviews with SAIs officials, will be discussed.

Data Collection Methods

  • Semi-structured interviews, case studies, and document analysis will be used to collect data from SAIs officials and other stakeholders.
  • The sampling strategy for selecting cases and participants will also be described.

Data Analysis Procedures

  • Coding, categorization, and theme development will be used to analyze the collected data.
  • The findings of the study will be presented in this section.

Methodology

Research Design and Sampling Strategy

  • The research design and sampling strategy for selecting cases and participants will be described.
  • The selection criteria for SAIs officials and other stakeholders will also be discussed.

Data Collection Methods

  • Semi-structured interviews, case studies, and document analysis will be used to collect data from SAIs officials and other stakeholders.
  • The methods for collecting and storing the data will be discussed.

Data Analysis Procedures

  • Coding, categorization, and theme development will be used to analyze the collected data.
  • The procedures for ensuring the reliability and validity of the findings will also be discussed.

Conclusion

Main Findings

  • This section will summarize the main findings of the study on the influence of institutional pressures on audit quality in Liberia’s public sector.
  • The implications of the findings for policymakers, SAIs officials, and other stakeholders involved in preventing fraud and corruption in the public sector will be discussed.

Recommendations

  • Recommendations for improving audit quality and preventing fraud and corruption in Liberia’s public sector will be provided.
  • The relevance of these recommendations in the context of Liberia’s public sector will be discussed.